The Aussie rockers react to being dumped by their record company by going it alone...

SILVERCHAIR have set up their own label, 'ELEVEN', and plan to release their fourth studio album on it, distributed by EMI.

The band, who recently parted ways with their former label Sony, have confirmed that 'Eleven' will be operated by their manager John Watson and general manager Melissa Cheney.

First releases lined up by the label are an album by electronica artist Paul Mac, and according to Australian website Undercover, a collaboration between Mac and Silverchair frontman Daniel Johns, calling themselves I Can't Believe It's Not Rock.

They have reportedly recorded five "experimental" tracks together, which it is anticipated could be released towards the end of the year as an EP.

Undercover additionally reveals that the label's name was inspired by Spinal Tap. According to John Watson: "Like the amplifier in the movie 'This Is Spinal Tap', we don't just want to go to 10, we want to go to 'Eleven'."

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